Zenith

ICT4D Week 2018

Thursday, May 12, 2016

LASG pays N48bn to pensioners

The
Lagos State Government has paid accrued pension rights totalling N48 billion
naira to over 10, 300 retirees to underscore its commitment to improve the
welfare and well-being of former staff, reports ITRealms.

The
Commissioner, Ministry of Establishments, Training and Pensions, Dr. Benson Oke
Akintola, who stated this on Tuesday while speaking at the 10th Retirement
Benefit Documentation Seminar for employees who are due to retire from the
Lagos State Public Service between July and December, 2016 at Alausa, Ikeja, said
the State Government will continue to deliver tangible dividends of democracy
in spite of the limited available resources.

Dr.
Akintola, represented by the Permanent Secretary, Civil Service Pensions
Office, Mrs. Funmilayo Balogun said, “Prompt payment of the monthly salaries
and allowances of all active workers by the Lagos State Government will
continue to be our focus. This is because Government is ever conscious of the
necessity to ensure the well-being of its workforce whose contributions to its
achievements cannot be quantified.”

Speaking
earlier, the Director General, Lagos State Pension Board, Mrs. Folashade
Onanuga said that the total contributions credited into active employees
Retirement Savings Accounts managed by the 10 Pension Fund Administrators
approved by the State Government, from April 2007 to March 2016 is
approximately N64 billion.

She
restated that the accrued pension rights of N48 billion paid by the present
administration to over 10, 300 retirees has increased the total amount remitted
by the State Government as employees’ pension rights under the Contributory
Pension Scheme to N112.080 billion naira.

While
commending the Ambode led administration for its dedication and steadfastness
despite the myriad of projects competing for the State’s resources, the LASPEC
boss used the occasion to thank all the stakeholders who have, in one way or
another, contributed to the efficient operations of the scheme in Lagos State.

The
Retirement Benefit Documentation Seminar is a bi-annual event which is intended
to prepare employees, retiring from the civil service, for a life of financial
independence, as well as educate them on how to manage their health in
retirement.